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TRON (TRX) is a cryptocurrency that made its initial coin offering (ICO) in 2017 and quickly became one of the top 10 cryptocurrencies in the world. Its fast rise in terms of market capitalization has made TRON price predictions a popular discussion point among crypto enthusiasts and investors.
Adding to the interest in TRX is the fact that its developer, Justin Sun, was both the chief representative for Ripple (XRP) in China and the protégé of Jack Ma - the founder of Alibaba.
Available to purchase for only a few cents per coin, TRX is a penny cryptocurrency that attracts both investors new to cryptocurrency who are looking to dive in with little risk as well as long-time crypto supporters familiar with Sun's history.
Before investing in any cryptocurrency, it is important to be aware of its history, its price fluctuations, and what makes it different from other coins.
Today, we'll break down what makes TRON such an appealing altcoin and why you might want to consider adding it to your portfolio.
What Is TRON?
At its heart, TRON is a decentralized blockchain platform that allows peer-to-peer (P2P) sharing of content among its users.
TRON began using the Ethereum (ETH) blockchain but has since broken free to operate on its own and become one of the world's largest blockchain operating systems with the goal of providing a decentralized Internet.
The cryptocurrency, TRX (also referred to as TRON or Tronix), allows producers of content to be paid for their creation.
By using the TRON blockchain, developers of decentralized applications (DApps) can make their applications available to the public and earn money in the form of TRX without having to go through middlemen such as the Apple or Android stores.
Those with a bullish TRX price prediction see the TRON blockchain as an opportunity for creators to use a free and secure P2P platform that is empowering and offers a fair return for their work.
As such, TRON and TRX have a strong base of support (as evidenced by Justin Sun's 2.1 million Twitter followers).
TRON Price History
On Sept. 7, 2017, TRON made its ICO at $0.0019. A week later, the coin dropped to its all-time low of $0.001091.
Like all other cryptocurrency prices, there have been a lot of ups and downs in recent years in terms of price, but those keeping a keen eye on TRX have certainly had their opportunities to turn a profit...
In its second year of existence, TRON made some big moves, which were reflected in its price. The development of the TRON Virtual Machine, as well as the company's move off of Ethereum's blockchain in 2018 allowed for further on-chain development.
In the same year, TRON acquired BitTorrent, a popular P2P file-sharing platform founded in 2001. An abundance of positive news about the events led to TRX skyrocketing in price to its all-time high of $0.30063 in early 2018.
Although TRX came back to earth and has remained far from its 2018 high, the coin gained a lot of momentum once again in 2020. In mid-August, TRON entered the decentralized finance (DeFi) sector by launching its first decentralized token exchange protocol: JustSwap.
JustSwap presents a challenge to Ethereum's DeFi protocol, UniSwap. The unveiling of UniSwap led to an increase in Ethereum's price, and JustSwap immediately had a similar effect on TRX.
In early September, 2020, Justin Sun announced a new token, SUN, which TRX holders could mine by staking some of their currency. The new coin adds another DeFi project to the TRON network.
The positive news generated in 2020 rallied the price of TRX from $0.0133 on Jan. 1 to upwards of $.04 in early September.
Why Should You Consider TRON
Important factors to consider when investing in any cryptocurrency are what makes the coin unique and what it offers that can't be found elsewhere. In the case of TRX, there are quite a few characteristics that make it a crypto of interest.
A good place to start is with TRON's charismatic founder, Justin Sun. As mentioned, Sun has important connections in big business stemming from his time learning from Jack Ma, but he also is capable of making big news on his own...
Sun brings attention to TRON through breaking news via Twitter and high-profile events such as having lunch with Warren Buffett (which he donated $4.56 million to charity for). In the world of crypto, any newsworthy event that elevates awareness of a coin can be enough to give its price upward momentum.
What truly makes TRON unique is its goal of reinventing the way we purchase, create, and interact with digital content. If the TRON platform succeeds, all digital content - from apps to movies, music, video games, and more - will go straight from the creator to the consumer.
Ideally, removal of the middle man would allow creators to make more money from their products while at the same time lowering costs.
Much of the future success of TRON relies upon its acceptance by artists and creators. It seems likely that startups, especially those in the music and publishing industry, will be willing to be early adopters of the platform as a means of distributing their products to a large audience for free.
If there is one thing TRON is certainly not lacking, it is ambition. The TRON Foundation has mapped out six stages of growth that will take it through the end of the decade.
The first (now completed) stage was Exodus, which was leaving the Ethereum blockchain and establishing its own decentralized platform where users can share content for free.
The second stage, Odyssey, uses blockchain technology and TRX coins to create, host, and promote content on the platform. Unlike other platforms where clicks are tracked to generate revenue, creators are "tipped" with coins by users; the size of the tip depends upon how much the user enjoyed the content.
The four upcoming stages are Great Voyage, Apollo, Star Trek, and Eternity. Goals of the final four stages include new ICOs (such as the mining of SUN coins) and the establishment of a decentralized gaming platform.
With big plans for the future and deals already being made with players in the gaming industry, it's easy to see why TRX price predictions tend to see upward movement.
Interesting TRON (TRX) Price Predictions
Successfully predicting price swings can help you earn a passive income with cryptocurrency, and paying attention to the experts can help set you on the right path.
The crypto prediction service CoinLiker sees the price of TRX rising to $0.193099 in 2021, with a steady surge to $0.554055 by 2025.
CoinSwitch is even more bullish, predicting a rise to $0.763 over the next five years. This prediction is a bit tempered, and it assumes both greater adoption of blockchain technology and the embracing of the TRON platform by creators. CoinSwitch warns of a "worst-case scenario" of TRX pricing at $0.20 by 2025 if such adoption does not occur.
Looking even further ahead, CoinSwitch names TRX as one of the cryptocurrencies with the most room to grow, citing its enthusiastic community of supporters and developers. The site explains, "TRON's adoption rate might grow manifold, and its accessibility might take a higher stand as compared to its competitors. By the end of 2030, Tron might reach as high as $1.00 USD, considering the volatile market."
Even by Coinswitch's most bearish prediction, holding TRX through 2025 would net a 700% return from its current price of $0.025. On the other hand, if the 2030 TRON price prediction of $1 comes to fruition, you'd net a whopping 3,900% return!
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